A clause in a business interruption policy which indemnifies the insured in respect of the cost of an accountant’s fee in respect of preparing and submitting the claim. Without the clause, the cost falls upon the insured.
Tag: RAW
Accounts and Statements Rules
the requirements for making returns to the Financial Services Authority, commonly referred to as the regulatory return, to be found in the Interim Prudential Sourcebook for Insurers (see Integrated Prudential Sourcebook).
Accounts receivable (A/R) transaction
Miscellaneous Medi-Cal accounting transactions as a result of cost settlements, state audits, or refund checks received by the fiscal intermediary.
Accounts receivable (AR)
1. Total amount of money owed by patients to a business for professional services rendered by a provider or medical group. 2. Money owed to a hospital facility from patients, insurance companies, managed care plans, and government programs.Also See day sheet.
Accounts receivable coverage
Pays for the cost of reconstructing accounts receivable records that have been damaged or destroyed by a covered peril. Even more importantly, it covers any payments that cannot be collected because records cannot be reconstructed.
Accreditation
The process by which a firm may obtain registration as a Lloyd’s broker.
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US, MEDICAL: 1. Seal of approval; evaluative process whereby a program of study or an institution is recognized by an external body as meeting certain predetermined standards. Accreditation may either be permanent or may be given for a specified period of time. 2. Related to hospitals, it means that a facility meets certain standards of quality. These standards are set by private, nationally recognized groups that check on the quality of care (staff and equipment) at health care facilities usually every 3 years. Accreditation can be awarded by two organizations: The Joint Commission (formerly known as Joint Commission of Accreditation of Health Care Organization [JCAHO] ) and the American Osteopathic Association (AOA). State or federal governments can recognize accreditation in lieu of, or as the basis for, licensure or other mandatory approvals. Also see certification.
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Process of registering an applicant as a Lloyd’s broker. Reaccreditation occurs after three years. Prior to applying to Lloyd’s a UK-based applicant must be authorised by the FSA. The new accreditation scheme allows overseas brokers to become accredited Lloyd’s brokers without having a UK-based registered company. Overseas applicants have to demonstrate that they meet FSA-equivalent requirements in the matters of insurance money segregation, solvency and professional indemnity insurance. There are also requirements for reporting, monitoring, complaints handling, training and competence and codes of practice, all of which may take account of local requirements.
Accreditation Association for Ambulatory Health Care (AAAHC)
The Accreditation Association for Ambulatory Health Care, also known as the Accreditation Association or AAAHC , was formed in 1979 to assist ambulatory health care organizations improve the quality of care provided to patients. AAAHC is the leader in ambulatory health care accreditation and accredits more than 2500 organizations in a wide variety of ambulatory health care settings including ambulatory and office-based surgery centers, managed care organizations, and Indian and student health centers. With a single focus on the ambulatory care community, the Accreditation Association offers organizations a cost-effective, flexible, and collaborative approach to accreditation. The Accreditation Association’s mission is to maintain its position as the preeminent leader in developing standards to advance and promote patient safety, quality, value, and measurement of performance for ambulatory health care through peer-based accreditation processes, education, and research.
Accreditation cycle for M+C deeming
Duration of the Centers for Medicare and Medicaid Services’ (CMS) recognition of the validity of an accrediting organization’s determination that a Medicare+Choice organization (M+CO) is “fully accredited.”
Accreditation for deeming
Some states use the findings of private accreditation organizations, in part or in whole, to supplement or substitute for state oversight of some quality-related standards. This is referred to as “deemed compliance” with a standard.
Accreditation for participation
State requirement that managed care plans must be accredited to participate in the Medicaid managed care program.